Gerardo

Gerardo is 57 years old, and lives in a civil union with his wife. He is going to use the loan to buy the supplies needed to care for his tomato and chili pepper crops. He relies on these tomato and chili pepper crops. He has already established them in an area with excellent conditions, to which he wants to attend and improve his results. His goal is to have a good harvest from these crops and to strengthen his project every day, and if possible to grow with his project. He also wants to generate profits in order to get ahead with the loan repayments and to continue to provide a good quality of life for his wife.

This is his first loan received through FUDECOSUR. He has not had other loans previously through state banks, but FUDECOSUR has offered him the loan with better facilities and a much lower interest rate.

Additional Information

More information about this loan

FUDECOSUR works in one of the poorest regions of Costa Rica, where microfinance institutions (MFIs) are scarce or have a hard time keeping up with demand for small loans. By providing mostly agricultural loans, FUDECOSUR reaches rural borrowers that many MFIs consider to be too risky. However, this has also made it more difficult for the organization to find stable sources of capital to lend. Kiva's flexible, risk-tolerant capital plays a critical role in helping FUDECOSUR grow its portfolio and support even more borrowers.

About FUDECOSUR:

The Foundation for the Development of Southern Communities (FUDECOSUR) is dedicated to economically empowering its clients by providing credit and training programs that help improve living conditions for micro-entrepreneurs and their children across Southern Costa Rica. You can learn more about this Field Partner at fudecosur.org.